News this week: Hong Kong-listed SEEC Media announced its interim
results for the six months ended 30th June 2012. The company
generated revenues of US$30 million, an increase of 12% over the same period in
2011. Net profit in the first half was US$2.4 million, up 38% year-on-year.
Diluted earnings per share in the six-month period were HK$0.011 (US$0.0014).
More than 93% of SEEC’s
revenues were generated from its advertising business, which amounted to US$28
million. This represents a 14% increase over the first half of 2011. The
remaining revenues (US$1.9 million) were generated from the sale of books and
magazines – or a year-on-year decrease of 9.0%.
SEEC reported revenues
from its flagship magazine, Caijing, increased by 25% compared
to the first half of last year. The company, however, did not separately report
on Caijing’s revenues. Sports
Illustrated (China) recorded a stand-out performance in the first half
of the year. The magazine recorded an impressive growth of 45% - largely due to
the London Olympic Games.
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